Palace Street, Canterbury, Kent, CT1

COMMERCIAL INVESTMENT OPPORTUNITY – 999 YEAR LEASEHOLD

An excellent opportunity to acquire a long leasehold commercial investment, comprising retail premises let on an existing 5-year Full Repairing and Insuring (FRI) lease.

The property is currently let at a passing rent of £16,000 per annum, providing an established rental income stream. The lease commenced on 15 March 2023 and incorporates annual rent increases linked to the Consumer Prices Index (CPI), offering the potential for rental growth in line with inflation, subject to the terms of the lease.

The FRI lease places responsibility for repairs and maintenance on the tenant in accordance with the lease provisions, potentially reducing the landlord's ongoing maintenance obligations.

Held on a 999-year leasehold interest, this investment offers long-term ownership security alongside the benefit of an existing commercial tenancy and CPI-linked rental reviews.

An appealing opportunity for private investors and commercial property buyers seeking an income-producing retail investment with a long leasehold interest.

Identification Checks

If an offer is accepted on a property marketed by Miles & Barr, all purchasers are required to complete ID verification checks. This is a legal obligation under Anti-Money Laundering Regulations. We use a specialist third-party company to carry out these checks. The fee is £60 (including VAT) per person or £120 (including VAT) if purchasing under a company name, payable once the offer is agreed and before the sales memorandum is issued. Please note that this charge is non-refundable.

Location Summary

The property is situated within the city of Canterbury, being within easy access of the High Street and all its amenities. These include an excellent modern shopping centre, the University of Kent, Canterbury Christ Church University and other colleges, together with an excellent choice of schools in both the public and private sectors. In addition to the High Street is the Kings Mile, which is a lovely mall of boutique style shops, cafes, eateries and public houses.

Sporting and recreational opportunities nearby include: golf at Scotland Hills, Canterbury, sailing at Whitstable Yacht Club and Herne Bay, county cricket at Canterbury and day trips to France via Eurotunnel, all within easy access. In addition, the Marlowe Theatre, the spectacular Beaney House of Art & Knowledge and the Gulbenkian (theatre, cinema and café bar) at the University of Kent, all provide a wealth of excellent entertainment in Canterbury.

Canterbury has two mainline railway stations, with Canterbury West offering the high speed service to London (St Pancras 56 mins). The property is also within easy access of the A2 dual carriageway, which in turn links to the Channel Port of Dover and Brenley Corner at Faversham, adjoining the M2 / A299 (Thanet Way) linking London and the coastal towns respectively. Ashford International (15.4 miles, London St Pancras 38 mins).